Enlight Renewable Energy (NASDAQ:ENLT) Trading Down 3.3% – Here’s What Happened

Enlight Renewable Energy Ltd (NASDAQ:ENLT) shares dropped 3.3% during trading on Wednesday . The company traded as low as $16.02 and last traded at $15.68. Approximately 1,402 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 16,258 shares. The stock had previously closed at $16.21.

Analyst Ratings Changes

ENLT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a “buy” rating and a $22.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, Wolfe Research lowered shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Trading Down 3.0 %

The firm has a market cap of $1.82 billion, a P/E ratio of 43.67 and a beta of 1.38. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22. The stock has a fifty day simple moving average of $16.66 and a 200 day simple moving average of $16.39.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The business had revenue of $114.21 million during the quarter, compared to analyst estimates of $289.04 million. On average, research analysts expect that Enlight Renewable Energy Ltd will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of institutional investors have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. grew its holdings in Enlight Renewable Energy by 51.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock valued at $32,000 after buying an additional 625 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Enlight Renewable Energy in the 4th quarter worth $145,000. Jane Street Group LLC purchased a new position in shares of Enlight Renewable Energy during the fourth quarter valued at about $196,000. Tidal Investments LLC increased its holdings in shares of Enlight Renewable Energy by 11.3% in the third quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after purchasing an additional 1,852 shares during the last quarter. Finally, Barclays PLC boosted its stake in Enlight Renewable Energy by 4,278.2% during the third quarter. Barclays PLC now owns 25,525 shares of the company’s stock valued at $432,000 after buying an additional 24,942 shares during the last quarter. Hedge funds and other institutional investors own 38.89% of the company’s stock.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.